Business
Just in: Naira hits N1100/$1 at parallel market
The exchange rate between the naira and dollar fell to N1,100 on the black market according to traders who sell forex per inflow.
According to traders in Lagos, dollar is quoted for between N1,100-N1,110 for inflow. Inflows are forex transactions sold or bought over the wires.
The exchange rate at the official Nigerian Forex Market fell to the lowest ever point of N848/$1 on Tuesday marking a turning point in Nigeria’s exchange rate crisis.
READ ALSO: Naira hits record low, now N848/$1 at official market
The exchange rate between the naira and dollar devalued to N848/$1 on the official investor and exporter window on October 17th, 2023. It also traded at a record at an intra-day high of N981/$1.
This is according to data from the FMDQ website which publishes the daily exchange rate on the Nigerian forex exchange market where forex is sold officially.
This is the lowest the naira has ever traded officially. Before now, the lowest the naira had traded officially was N803.90/$1 recorded on the 14th of July 2023.
-
Education4 days agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Business6 days agoInformation Minister, VON DG to lead ARCON’s 2026 Advertising Industry Colloquium
-
Football4 days agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy
-
Aviation6 days agoCanada issues 10 key tips to help immigration applicants avoid processing delays
-
Business1 week agoCooking gas dealers slash prices amid intensifying market competition
-
Business4 days agoBreaking: NNPCL reduces pump price of petrol as competition intensifies
-
Politics1 week agoKenneth Okonkwo questions INEC’s credibility, calls for reforms ahead of 2027 polls
-
Latest6 days agoFubara’s early push for political structure triggered rift – Wike